ACCOUNTING CERTIFICATION TEST
QUESTIONS & DETAILED ANSWERS
ALREADY GRADED A+
You're setting up a new customer. How do you tell QuickBooks that this customer's
invoices should be due 30 days after they're issued? - Correct Answer ✔✔ Set the
customer's Terms to Net30
Your boss wants to know if there are any overdue bills. What report would you run to
give him this information? - Correct Answer ✔✔ Accounts Payable Aging Report
What is the purpose of the Audit Log report? - Correct Answer ✔✔ To track any
changes and deletions to transactions, as well as track which user makes the change or
deletion
Which three statements are true about settings up a product or service in QuickBooks
Online? (Choose three) - Correct Answer ✔✔ 1. You can use one product/service to
represent different services or goods.
2. Products/Services allow you to track your sales in more detail without cluttering your
Chart of Accounts or Profit & Loss.
3. To create an invoice, you can use either a product or a service.
When should you not delete a check? - Correct Answer ✔✔ You printed a check, and
the check number has been used.
Which of the following statements are true regarding vendor credits? (Choose 2) -
Correct Answer ✔✔ 1. Vendor credit memos decrease what you owe to the vendor.
2. If an inventory item is entered in the product/service field of the item details section of
the vendor credit, the inventory quantity on hand balance would decrease.
Select three statements that are correct about journal entries. (Choose 3) - Correct
Answer ✔✔ 1. A journal entry must have a date.
2. The accounts used on a journal entry come from the chart of accounts.
3. Total debits must equal total credits on a journal entry.
You boss wants to know what the balance is for total assets, liabilities and equity. What
financial report would you use to find this information? - Correct Answer ✔✔ Balance
sheet
On a standard balance sheet or profit and loss report identify if you can customize the
feature or report area described below. Select Yes if you can customize the feature or
QUESTIONS & DETAILED ANSWERS
ALREADY GRADED A+
You're setting up a new customer. How do you tell QuickBooks that this customer's
invoices should be due 30 days after they're issued? - Correct Answer ✔✔ Set the
customer's Terms to Net30
Your boss wants to know if there are any overdue bills. What report would you run to
give him this information? - Correct Answer ✔✔ Accounts Payable Aging Report
What is the purpose of the Audit Log report? - Correct Answer ✔✔ To track any
changes and deletions to transactions, as well as track which user makes the change or
deletion
Which three statements are true about settings up a product or service in QuickBooks
Online? (Choose three) - Correct Answer ✔✔ 1. You can use one product/service to
represent different services or goods.
2. Products/Services allow you to track your sales in more detail without cluttering your
Chart of Accounts or Profit & Loss.
3. To create an invoice, you can use either a product or a service.
When should you not delete a check? - Correct Answer ✔✔ You printed a check, and
the check number has been used.
Which of the following statements are true regarding vendor credits? (Choose 2) -
Correct Answer ✔✔ 1. Vendor credit memos decrease what you owe to the vendor.
2. If an inventory item is entered in the product/service field of the item details section of
the vendor credit, the inventory quantity on hand balance would decrease.
Select three statements that are correct about journal entries. (Choose 3) - Correct
Answer ✔✔ 1. A journal entry must have a date.
2. The accounts used on a journal entry come from the chart of accounts.
3. Total debits must equal total credits on a journal entry.
You boss wants to know what the balance is for total assets, liabilities and equity. What
financial report would you use to find this information? - Correct Answer ✔✔ Balance
sheet
On a standard balance sheet or profit and loss report identify if you can customize the
feature or report area described below. Select Yes if you can customize the feature or
